Category Archives: Entrepreneurship

Life is a business; life is a game; life is art

Here are three ways to view your life:

Life as a business

Life is a business, and you are the Founder & CEO.

You have goals, resources, and agency. The idea is to build the strongest business and life for yourself. You do this by making good decisions and generating profit.

The most savvy founders look for holes in the fabric of society, the market, their industry โ€” and exploit them. They seek trends that allow them to be ahead of the curve.

Life as a game

Life is a game, and you are a player.

You are initialized with random parameters that inform your strengths, weaknesses, and initial environment. There’s an endless world in front of you to explore and play in.

The idea is to do well at the game โ€” build points, power, connections. You encounter other players, transact with them, exchange moves, determine if they are trustworthy or hostile.

You learn the rules over time and understand what game you are even playing. You discover that within the greater context of “the game”, there are many sub-games you can play.

Randomness and luck are all built into the game.

Life as an art piece

Life is an art project, and you are the artist.

You have a blank canvas in front of you and an infinite number of creative decisions to make. The idea is to find a beautiful & satisfying creative endpoint for your piece.

There are many creative paths to take, leading to different ends. There is no best end, but some ends are better than others.

Like any other artist, you must apply techniques to manage the decision space. You apply constraints โ€” sometimes artificially, sometimes destructively โ€” to move forward.

Art/Artist Fit

Product/Market fit is when you’ve made a product that people actually want.

Product/Founder fit is when your product is a good fit for you, personally, as a founder.1

Art/Artist fit (something I just made up) is a generalization of Product/Founder given the point of view that products are art and making a product is an artistic practice.

Given that art is a reflection of the artist, it makes sense that certain kinds of art will be more or less natural for someone to make, given their personal inclinations.

A few examples from the wild:

In this episode of the Art of Product podcast (1:11:00), Adam Wathan talks about how a subscription-model content business isn’t a good fit for him, while it is a good fit for a friend. Adam doesn’t like the idea of “being on a treadmill” to constantly create new content for the subscribers but conversely his friend appreciates the continuous dopamine hits as opposed to a longer 4 month long effort to create something like an e-book or course.

Next is from Dan Luu, one of my favorite bloggers:

[Paul Graham’s writing] uses multiple aspects of what’s sometimes called classic style. […] . What that means is really too long to reasonably describe in this post, but I’ll say that one part of it is that the prose is clean, straightforward, and simple. […]

My style is opposite in many ways. I often have long, meandering, sentences, not for any particular literary purpose, but just because it reflects how I think

Dan Luu, https://danluu.com/writing-non-advice/

Last is from Kareful, one of my favorite musicians:

“does anyone have tips for finishing a song? these days i can only write the intro and 1st drop, and i can’t get passed this point” – Vavn

Maybe you’re not meant to write long music, I also had this discovery recently, now all my tracks are around 2 minutes, but I find this means I now finish 3/4 tracks a week.

Kareful

Personally, I find short, several-paragraph posts about a specific thought very much a fit for me right now. This blog started in a very different way, doing long, deeply technical researched pieces which were a fit for me at the time (gap year) but no longer are.

Musically, I loved hyper-technical electronic music production ~2020 (also during my gap year) but recently have been doing simpler, more “beatsy” music.

3 years of Timestamps

It’s been three years since I launched https://timestamps.me, and a little less than three years since I stopped working on it.

Since March 25th, 2020, here are the stats:

  • 4465 uploads
  • $437 revenue earned

This works out to about 4 uploads per day, which for me, is a great success.

Rough recap:

  • Feb 2020: I was taking my gap year and wanted to code again. I had the idea to work on a little tool for exporting locators from Ableton Live sets. I thought it would be fun to just quickly make it into a web app, and ship it. I ended up hyperfocusing on the problem space and making it super high accuracy (handling tempo automation). I also made it work for FL Studio which was difficult but a fun challenge.
  • March: I launch the web app (timestamps.fm at the time) and start trying to get users. I was extremely difficult. I posted on subreddits for DJing, Ableton, FL Studio, and Rekordbox.

Learnings and mistakes:

  • I wasted a ton of time porting to Google Cloud in an attempt to make the site run for free. It was an utter failure and I ended up porting back to Heroku.
  • I spent a ton of time DM’ing music producers that were performing at “e-fests” which were popular at the time (due to Covid-19, which was in full swing at the time). This was doomed to failure โ€” none of them would find value in this niche product.
  • Ironically, the customer and user that got the most use out of it reached out to me, not the other way around. The CEO of a company that makes a high volume of DJ mixes for hotels and restaurants DM’d me on LinkedIn asking to set up a call. He found me via SEO/Google search and was able to find me on LinkedIn because I had been bold enough to put myself as “CEO, Timestamps.fm” on my LinkedIn profile. Lesson: Be bold!
  • If I really wanted to do this in a time and capital efficient way, I should have put in way more customer research before building this whole product (including super advanced features like hyper accurate tempo automation support). I didn’t care about this though because I was on my gap year, and was first and foremost doing it because it was a fun programming challenge.
  • I wasted a ton of time hand coding HTML and modifying a free HTML theme I found online. I eventually rewrote the whole site in Bootstrap which took a bunch of time. The breaking point was when I was trying to make a pricing page with different subscription options. It was going terribly with my hand-hacking of the HTML page, and Bootstrap included great looking UI components for this already. Learning Bootstrap was probably a good investment.
  • If I were to do it again: I would use no-code WAY more. I would try to avoid hand-coding any HTML if at all possible, and just do the minimal amount of code to have an API server running for doing the actual processing.
  • I put up a donation button. In 3 years, I’ve had 3 donors, for a total of $25 in donations.
  • I eventually learned that the majority of DJs don’t care about time accurate records for their DJ mixes. A small subset of them do โ€” those that operate in the radio DJ world where they have licensing or reporting requirements. One DJ said they were required to submit timestamps so a radio show could show the track title on their web ui or something like that. But I was later surprised to see the site continuing to get traffic. Clearly there are some people out there that care. I haven’t bothered to figure out who they are or why. The site continues to be free, with no accounts necessary.

Smart things that I did right:

  • I had a lot of requests to support of DJ software like Traktor. I ignored them which was a great move โ€” it would have taken a lot more time and wouldn’t have moved the needle on the proejct.
  • I negotiated a good rate initially for the commercial customer’s subscription โ€” $40 a month! I then did a questionable move and lowered it significantly to $15 or a so per month when I made it free. The deal was that I would make the site free, but the customer would pay to help me break even on it. I later lowered it even more for them when I switched to Timestamps.me ($~20) which is a much cheaper domain then timestamps.fm ($80). It was a good move to move domains โ€” that domain was a risky liability โ€” if the customer ever left, I would have been stuck with an expensive, vanity domain for no real reason. I wasn’t going to become the next “last.fm” anytime soon.
  • SEO is the main driver, and continues to be until this day. I dominate the results for “ableton timestamps” etc. Posting on reddit and the Ableton forum were good calls.
  • I experimented with different monetization strategies. Pay per use was an interesting experiment and I made a small amount of money.

If I were to actually try to start a business again, I would do a lot of things different:

  • Be much more deliberate about picking the market and kind of customer to server
  • If you want to make money, make something that helps people that already make (and spend) money make even more money (the fact that they already make and spend it powerful and important)
  • Pick a product idea that isn’t totally novel so that it’s not so hard to sell it or introduce. It’s great to be able to say “I’m like X, but different because of A and B and specifically designed for C”

Why I enjoy hanging out with entrepreneurs

I’ve been a regular attendee at the Indie Hackers Berlin meetup lately. I’m not particularly an entrepreneur myself, but I love hanging out with them because they generally have many of the following qualities:

  • High functioning
  • Smart/Clever (to be successfull, you kind of have to be)
  • Ambitious
  • Creative
  • Unconventional thinkers
  • Into self development
  • Leadership

All of which make them very fun and interesting to be around!

How to pick a market that will make you money

As a founder, picking your market is the most important decision youโ€™ll make. It will impact every aspect of your journey, from product development to sales, and ultimately determine how profitable youโ€™ll be. A good market compensates for poor execution on your part, while even the best execution will struggle with a bad one.

So what goes into a good market?

The key attributes are:

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The “Early Stage Founder” Card

(Originally appeared on Indie Hackers)

As the founder of an early stage company, you have a unique tool you can use, but it only lasts for a limited time. It’s the “Early Stage Founder” card.

You can use this card when talking to customers, seeking mentorship, negotiating dealsโ€ฆ it’s versatile. It goes something like this:

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People hate surveys, but like being interviewed

(Originally appeared on my Indie Hackers blog)

Instead of posting a link to a survey in a Facebook group with potential customers, post that you’re doing a research project and would love to interview some people that do [whatever your target market does].

Here’s my theory: People don’t like filling out surveys because it feels cold, and impersonal. On the other hand, answering questions being asked by a human interviewer, even if they are the same questions, makes them feel important because of the personal touch. Someone else is taking time from their day to ask the questions, so it’s more reciprocal.

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